Dublin, July 15, 2022 (GLOBE NEWSWIRE) -- The "Heat Transfer Fluids Market - Global Outlook and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. Heat transfer fluid is primarily used as an intermediate liquid to transfer heat from a heat source to other heat demands. A heat transfer fluid is any liquid or gas used for the process that involves heating or cooling a system. Heat transfer fluids are utilized in industrial and other applications that require increased or decreased temperature in a closed circuit and a continuous cycle. Key companies are focusing on increasing the efficiencies, longer service life, and product safety of heat transfer fluids. Currently, mineral oil-based heat transfer fluids have maximum market share this is because the cost of mineral oil-based heat transfer fluid is low compared to other types.
The glycol-based heat transfer fluid market is predicted to grow at a faster rate due to its various advantages over mineral oil-based heat transfer fluid, like low viscosity, low toxicity, and antifreeze properties which makes it ideal for various applications. Drivers: Rise in Demand for Natural Gas Production. Heat transfer fluid is used in various natural gas industries like processing, refining, and transportation applications. They are utilized in applications like recovery of glycols and mitigating heating to remove water from processed natural gas. The rising utilization of heat transfer fuels in offshore oil and natural gas systems and a growing number of LNG workstation is the key factor for the increase in demand for heat transfer fluid. Heat transfer liquid offers excellent temperature control and gives security. The heat transfer fluid used for downstream heating petrochemicals also plays a part in the demand for efficient heat transfer fluids. Opportunities: Rapid Industrial Growth. The rapid growth in the industrialization of emerging economies has resulted in increased production and new modern technologies to increase productivity and efficiency. The increased production rate in manufacturing industries has led to high demand for heat transfer fluid in machining and casting industries. Heat transfer fluid is used in equipment to carry the heat and maintain the desired temperature of the system. Hence, the adoption rate of installation of heat transfer fluid systems in new facilities around the world has increased to support process efficiency growth in chemical, automotive, metal-processing, power, and oil & gas sectors. Restraints: Recyclability and Biodegradability Issues Regarding Heat Transfer Fluids.
Heat transfer fluid can work effectively for a limited period. After constant use, it can degrade, leading to expensive maintenance costs and shutdowns due to loss of heat transfer capacity. Heat transfer fluid degradation is caused mainly by thermal cracking, oxidation, and contamination. Regardless of which type of thermal fluid is used, it should be replaced over a certain period. With the global focus on the impact of chemicals on the environment and corporate sustainability objectives, the heat transfer fluid users are looking for alternatives for dumping and discarding utilized fluids by burning or landfilling. Key Questions Answered 1. What is the Size of the Heat Transfer Fluids (HTFS) Market? 2. What is the Growth Rate of the Heat Transfer Fluids Market? 3. Who Are the Key Players in the Heat Transfer Fluids (HTFS) Market? 4. Which Region Holds the Largest Share in the Heat Transfer Fluids (HTFS) Market? 5. Which End-User Segment to Witness Fastest Growth Rate in the Heat Transfer Fluids (HTFS) Market? Key Topics Covered: 1 Research Methodology 2 Research Objectives 3 Research Process 4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusions 4.1.3 Market Estimation Caveats 4.2 Base Year 4.3 Scope of the Study 4.3.1 Market Segmentation by Geography 5 Report Assumptions & Caveats 5.1 Key Caveats 5.2 Currency Conversion 5.3 Market Derivation 6 Market at a Glance 7 Introduction 7.1 Overview 7.2 Criteria to Select Heat-Transfer Fluids 7.2.1 Temperature 7.2.2 Pressure 7.2.3 Pumpability 7.2.4 Industry 7.2.5 Applications 7.2.6 Price 7.2.7 Efficiency 7.2.8 Environment Friendliness 7.3 Mergers and Acquisitions 7.4 Covid-19 Impact 8 Market Opportunities & Trends 8.1 Rapid Industrialization 8.2 Government Regulations Mandating Sustainable Practices 9 Market Growth Enablers 9.1 Demand for Natural Gas Production 9.2 Focus on Renewable Energy 9.3 Demand for Food-Grade Heat-Transfer Fluids 10 Market Restraints 10.1 Recyclability and Biodegradability Issues 10.2 Fluctuations in Raw Material Prices 11 Market Landscape 11.1 Market Overview 11.2 Market Size & Forecast 11.3 Five Forces Analysis 11.3.1 Threat of New Entrants 11.3.2 Bargaining Power of Suppliers 11.3.3 Bargaining Power of Buyers 11.3.4 Threat of Substitutes 11.3.5 Competitive Rivalry 12 Type 12.1 Market Snapshot & Growth Engine (Value) 12.2 Market Snapshot & Growth Engine (Volume) 12.3 Market Overview 12.4 Glycol 12.4.1 Market Overview 12.4.2 Market Size & Forecast 12.4.3 Market by Geography 12.5 Mineral Oil 12.5.1 Market Overview 12.5.2 Market Size & Forecast 12.5.3 Market by Geography 12.6 Synthetic Oil 12.6.1 Market Overview 12.6.2 Market Size & Forecast 12.6.3 Market by Geography 12.7 Others 12.7.1 Market Overview 12.7.2 Market Size & Forecast 12.7.3 Market by Geography 13 End-Use 13.1 Market Snapshot & Growth Engine (Value) 13.2 Market Snapshot & Growth Engine (Volume) 13.3 Market Overview 13.4 Oil & Gas 13.4.1 Market Overview 13.4.2 Market Size & Forecast 13.4.3 Market by Geography 13.5 Food & Beverage 13.5.1 Market Overview 13.5.2 Market Size & Forecast 13.5.3 Market by Geography 13.6 Pharmaceutical 13.6.1 Market Overview 13.6.2 Market Size & Forecast 13.6.3 Market by Geography 13.7 Renewable Energy 13.7.1 Market Overview 13.7.2 Market Size & Forecast 13.7.3 Market by Geography 13.8 Chemical 13.8.1 Market Overview 13.8.2 Market Size & Forecast 13.8.3 Market by Geography 13.9 Others 13.9.1 Market Overview 13.9.2 Market Size & Forecast 13.9.3 Market by Geography 14 Geography 14.1 Market Snapshot & Growth Engine (Value) 14.2 Geographic Overview 15 North America 15.1 Market Overview 15.1.1 Market Size & Forecast 15.2 Type 15.2.1 Market Size & Forecast 15.3 End-Use 15.3.1 Market Size & Forecast 15.4 Key Countries 15.4.1 Us: Market Size & Forecast 15.4.2 Canada: Market Size & Forecast 16 Europe 16.1 Market Overview 16.1.1 Market Size & Forecast 16.2 Type 16.2.1 Market Size & Forecast 16.3 End-Use 16.3.1 Market Size & Forecast 16.4 Key Countries 16.4.1 Germany: Market Size & Forecast 16.4.2 Russia: Market Size & Forecast 16.4.3 France: Market Size & Forecast 16.4.4 Italy: Market Size & Forecast 16.4.5 Spain: Market Size & Forecast 16.4.6 Rest of Europe 17 Apac 17.1 Market Overview 17.1.1 Market Size & Forecast 17.2 Type 17.2.1 Market Size & Forecast 17.3 End-Use 17.3.1 Market Size & Forecast 17.4 Key Countries 17.4.1 China: Market Size & Forecast 17.4.2 Japan: Market Size & Forecast 17.4.3 South Korea: Market Size & Forecast 17.4.4 India: Market Size & Forecast 17.4.5 Australia: Market Size & Forecast 17.4.6 Rest of Apac: Market Size & Forecast 18 Latin America 18.1 Market Overview 18.1.1 Market Size & Forecast 18.2 Type 18.2.1 Market Size & Forecast 18.3 End-Use 18.3.1 Market Size & Forecast 18.4 Key Countries 18.4.1 Brazil: Market Size & Forecast 18.4.2 Mexico: Market Size & Forecast 18.4.3 Rest of Latin America 19 Middle East and Africa 19.1 Market Overview 19.1.1 Market Size & Forecast 19.2 Type 19.2.1 Market Size & Forecast 19.3 End-Use 19.3.1 Market Size & Forecast 19.4 Key Countries 19.4.1 Saudi Arabia: Market Size & Forecast 19.4.2 Iraq: Market Size & Forecast 19.4.3 Uae: Market Size & Forecast 19.4.4 Rest of Mea 20 Competitive Landscape 20.1 Competition Overview 21 Key Company Profiles 21.1 Dow 21.1.1 Business Overview 21.1.2 Dow in the Global Heat-Transfer Fluid Market 21.1.3 Product Offerings 21.1.4 Key Strategies 21.1.5 Key Strengths 21.1.6 Key Opportunities 21.2 Eastman Chemical Company 21.2.1 Business Overview 21.2.2 Eastman Chemical Company in the Global Heat-Transfer Fluid Market 21.2.3 Product Offering 21.2.4 Key Strategies 21.2.5 Key Strengths 21.2.6 Key Opportunities 21.3 Exxonmobil 21.3.1 Business Overview 21.3.2 Exxonmobil in the Global Heat-Transfer Fluid Market 21.3.3 Product Offerings 21.3.4 Key Strategies 21.3.5 Key Strengths 21.3.6 Key Opportunities 21.4 Clariant 21.4.1 Business Overview 21.4.2 Clariant in the Global Heat-Transfer Fluid Market 21.4.3 Product Offerings 21.4.4 Key Strategies 21.4.5 Key Strengths 21.4.6 Key Opportunities 21.5 Arkema 21.5.1 Business Overview 21.5.2 Arkema in the Global Heat-Transfer Fluid Market 21.5.3 Product Offerings 21.5.4 Key Strategies 21.5.5 Key Strengths 21.5.6 Key Opportunities 22 Other Prominent Companies 22.1 Chevron 22.1.1 Business Overview 22.1.2 Product Offerings 22.2 Shell plc 22.2.1 Business Overview 22.2.2 Product Offerings 22.3 Phillips 66 22.3.1 Business Overview 22.3.2 Product Offerings 22.4 Radco Industries 22.4.1 Business Overview 22.4.2 Product Offerings 22.5 Lanxess 22.5.1 Business Overview 22.5.2 Product Offerings 22.6 Paratherm 22.6.1 Business Overview 22.6.2 Product Offerings 22.7 Indian Oil Corporation Ltd. 22.7.1 Business Overview 22.7.2 Product Offerings 22.8 Cfr Chemicals 22.8.1 Business Overview 22.8.2 Product Offerings 22.9 Sinopec 22.9.1 Business Overview 22.9.2 Product Offerings 22.10 Sasol 22.10.1 Business Overview 22.10.2 Product Offerings 22.11 Totalenergies 22.11.1 Business Overview 22.11.2 Product Offerings 22.12 Schultz 22.12.1 Business Overview 22.12.2 Product Offerings 22.13 Petro-Canada 22.13.1 Business Overview 22.13.2 Product Offerings 22.14 Eastern Petroleum Private Limited 22.14.1 Business Overview 22.14.2 Product Offerings 22.15 Huntsman Corporation 22.15.1 Business Overview 22.15.2 Product Offerings 22.16 Hp Lubricants 22.16.1 Business Overview 22.16.2 Product Offerings 23 Report Summary 23.1 Key Takeaways 23.2 Strategic Recommendations 24 Quantitative Summary 24.1 Type 24.1.1 Glycol 24.1.2 Mineral Oil 24.1.3 Synthetic Oil 24.1.4 Others 24.2 End-Use 24.2.1 Oil & Gas 24.2.2 Food & Beverage 24.2.3 Pharmaceutical 24.2.4 Renewable Energy 24.2.5 Chemical 24.2.6 Others 25 Geography 26 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/akbad0
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